KeyCorp Lowers Global Payments (NYSE:GPN) Price Target to $135.00

Global Payments (NYSE:GPN) had its price target reduced by research analysts at KeyCorp from $145.00 to $135.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. KeyCorp’s price target suggests a potential upside of 38.22% from the stock’s current price.

A number of other equities research analysts have also issued reports on GPN. Keefe, Bruyette & Woods dropped their target price on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, July 8th. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada cut their price objective on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. upped their price target on Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.36.

Global Payments Trading Up 0.6 %

Shares of Global Payments stock opened at $97.67 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The firm has a market capitalization of $24.93 billion, a PE ratio of 19.38, a P/E/G ratio of 0.71 and a beta of 0.98. The firm’s 50-day moving average price is $105.63 and its 200 day moving average price is $109.61.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the business posted $2.48 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Global Payments will post 11.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the sale, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Global Payments

Several institutional investors have recently bought and sold shares of GPN. Sanctuary Advisors LLC acquired a new stake in shares of Global Payments during the second quarter worth about $900,000. Brown Financial Advisors acquired a new stake in Global Payments during the 2nd quarter worth approximately $1,128,000. Heritage Oak Wealth Advisors LLC purchased a new position in Global Payments in the 2nd quarter valued at approximately $333,000. Delphi Management Inc. MA grew its stake in shares of Global Payments by 5.6% in the second quarter. Delphi Management Inc. MA now owns 13,682 shares of the business services provider’s stock worth $1,323,000 after acquiring an additional 730 shares in the last quarter. Finally, Aurora Investment Counsel increased its position in shares of Global Payments by 5.9% during the second quarter. Aurora Investment Counsel now owns 11,300 shares of the business services provider’s stock worth $1,093,000 after acquiring an additional 625 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.